Report: New Securities Class Actions Way Down in 2012
Securities plaintiffs lawyers are a resourceful breed, and a new report suggests that their hardiness is being put to the test. Federal securities class action filings dropped by 20 percent in 2012, according to a report released Wednesday by Cornerstone Research and Stanford Law School. Experts interviewed by Recorder sibling publication The Litigation Daily said the downturn wasn't surprising, given the steep obstacles thrown up by the courts, and the near-death of two litigation trends: cases related to the 2008 credit crisis, and cases against Chinese companies that obtained U.S. listings through a controversial practice known as a reverse merger.
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